Bike and E-bike Insurance
Last updated: 10 April 2020 / by Sam Williams
Owning a bike while you are living in Germany is a great way to get around without having to rely on public transport all the time. You will be in good company as there are more than 72 million bikes in Germany – and more than 2.5 million e-bikes too.
However, with bikes in such demand, the risk of theft is high. According to one study, every 90 seconds a bike is stolen in Germany. This makes bike and e-bike theft insurance an essential for every owner; here is what you need to know about it.
What is Bike and E-Bike Theft Insurance?
Bikes and e-bikes are a valuable commodity and buying one from new can cost hundreds – and sometimes thousands – of euros. It is natural to want to protect your investment, and in Germany, this means taking out insurance.
Germans are very enthusiastic about insurance of all types. Most Germans even have personal liability insurance to protect against any damage or loss they accidentally cause.
It is therefore customary to take out bike theft insurance to cover either your regular pedal bike or your e-bike. Coya provides cover for both bikes and e-bikes with a comprehensive plan which is specifically designed to meet the needs of ex-pats.
Bike theft insurance protects not only against theft but to vandalism that impairs the function of your bike too.
Bike and e-bike theft insurance should be taken out in addition to your regular home insurance. Some cyclists rely on their home insurance to protect their bikes against loss, but home insurance does not typically offer the same type of comprehensive coverage.
Home insurance often does not include bikes automatically; they may need to be specifically named to be protected. There may be conditions that apply, such as not being covered overnight or while they are outside the home. In addition, home insurance will usually only cover bike theft in its entirety, and won’t protect individual components which may be removed and stolen.
For this reason, if you have a bike or an e-bike, it is highly recommended to take out dedicated insurance so that you have proper protection, no matter where you are.
What is Covered?
Coya bike and e-bike insurance is a comprehensive policy, specifically designed to meet the needs of cyclists.
It covers theft and burglary, including from a locked motor vehicle or bicycle carrier.
The Coya bike theft insurance policy also covers the loss of original bike parts which are firmly attached and an integral part of the bike’s function. An example of this would be the battery on an e-bike. Coya also covers vandalism that affects the functioning of the bike (but excludes superficial scratches to the paintwork and damage which does not impair use).
The cover applies wherever your bike is in Germany and extends worldwide if you are traveling overseas temporarily.
You could insure only newly purchased bikes, and they must not be more than 12 months old when you make the insurance. Then you could continue the policy until your bike is five years old, giving you peace of mind.
To be protected by the policy, when left unattended, the bike must always be properly secured to an appropriate object, using a lock. The cost of the lock is also covered by the Coya Bike Insurance policy.
Bikes – including a GPS tracker if fitted – up to the value of €10,000 can be covered by the policy, but it must be specified when making the insurance.
Benefits of Choosing Coya
Although Coya is available to anyone living in Germany, the process and customer support is designed to appeal to ex-pats specifically. Some of the benefits you will enjoy from using Coya include:
A process in English from beginning to end
Unlike the other insurers in the market, Coya offers everything in English, including customer service support.
Whether you are looking on the website or speaking to customer service advisors, full English language accessibility is offered.
No awkward tie-in – cancel whenever you want
You may not be sure how long you are staying in Germany and feel reluctant to commit to a long-term contract.
With Coya that is no problem, just cancel whenever you want.
100% online insurance – 100% paperless.
Coya is an eco-friendly company that offers maximum efficiency, conducting the whole process from start to finish online.
There is no paper to sign or lengthy processes, and once you’ve paid for your policy, there’s nothing more you need to do!
Quick, fast and convenient – make it in just a few minutes
With everything being available at your fingertips, the whole application process only takes a few minutes.
If you need to make a claim, you will discover the same speedy approach. A digital dashboard contains all your information, allowing you to submit your claim within just a few seconds.
Other Coya Products
Coya is not just limited to bike and e-bike theft insurance; they have a wide range of insurance products which are available to anyone living in Germany. Some of their other products include:
Germans are very serious about their responsibilities. For this reason, most have private liability insurance.
If you hurt another person or damage their property, you will be expected to cover the costs. Private liability insurance, known as haftpflichtversicherung, protects against hefty bills.
Home contents insurance protects the items in your home such as carpets, furniture, electronics, clothing and cash/jewellery (up to €10k) in the event of fire, water damage, storm, hail, burglary or theft.
In Germany, owners are financially responsible for any damage their dog causes. Dog liability insurance, also known as Hundehaftpflichtversicherung, covers you for any mishaps that might occur.
The insurance covers injuries to other people or damage to their property. In many parts of Germany, dog liability is legally required.
Frequently Asked Questions
If you are new to Coya or bike theft insurance, we know that you might still have some questions about how exactly it all works.
We have collected here some of the most commonly asked questions, and the answers, for easy reference:
Do I have to take the insurance out on the same day that I buy my bike?
No. You can take our Coya bike and e-bike theft insurance at any time in the first 12 months after you buy the bike. You must have purchased the bike from new. Once you have had the bike for longer than 12 months, you will not be able to take out this policy.
What types of parts are covered by the Coya bike insurance policy?
The policy covers all parts which were originally included on the bike, and firmly attached. Parts and accessories which were added later, or attached via a plug-in or other simple mechanism will not be insured. Examples of some of the parts covered by the policy: the saddle, lamps, handlebars and luggage racks.
Why do I need to know my frame number?
The frame number is an important identifying code that is unique to your bike or e-bike. You’ll need it when you apply for the policy and will be stored on your dashboard for future use. If your bike is stolen, the police will need to know your frame number so they can recognize your bike if it’s retrieved. Your frame number is also sometimes referred to as the serial number.
Is the battery on my e-bike covered by the theft policy?
Of course! The battery on e-bikes is a valuable component, and if you are unlucky, it may be targeted by thieves. The parts component of your Coya policy provides protection if the battery is stolen from your bike.
The cover only applies if the battery was attached to your bike at the time of the theft.
What is the application process with Coya?
The application process with Coya is deliberately designed to be simple and very accessible for expats.
Go online and enter your details at Coya for a quote, accept and you will be covered from the following day. The process is entirely paper-free and could not be easier!
How much will I receive if I need to claim?
Your Coya Bike and E-Bike Theft Insurance policy will reimburse you for the current cost of replacing your bike.
This means if the price of your bike has changed, you will receive the current value so you can replace it with a new one.
If your bike is no longer available on the market, you will be paid the value of an equivalent bike.
This means you could receive more or less than what you originally paid for your bike, depending on whether the price has gone up or down.
However, you are guaranteed to receive the full value of the current price so you’ll be able to buy a replacement without having to add any of your own money.
How do I claim if I cannot speak German?
There’s a reason why Coya is often considered as the best bicycle theft insurance for expats – you do not need to speak any German.
The whole process from application to claim is offered in English, including support from Customer Service.
Cover Your Bike with Theft Insurance Now
With an excellent network of cycle paths and more euros being poured into the infrastructure every year, cycling is set to become even more popular in Germany.
An affordable and hassle-free way to get around, owning a bike in Germany is almost essential to experience life like a local.
Coya’s bike and e-bike theft insurance provide valuable protection against loss, so if you lock up when you are out and about, you can enjoy real peace of mind.
Look at the comprehensive coverage from Coya today to get your bike or e-bike insured right away.